Navigation Links
Government Hospitals to the Rescue of Loss-making Pharma Companies

In order to makeup for the loss of the four sick public sector pharmaceutical and chemical companies, the hospitals run by state governments , the railways and the armed forces have been asked to purchase drugs from them to make them profit making units.

According to the ministry of chemicals and fertilizers, Hindustan Antibiotics Limited, Bengal Chemicals and Pharmaceuticals Limited, Hindustan Insecticides Limited and Hindustan Organic Chemicals Limited have been revived.

"India has revitalized four PSUs with an investment of over Rs. 10 billion and asked the hospitals under government, railways and army to purchase drugs from them," said G.S. Sandhu, joint secretary at the ministry of chemicals and fertilizers.

"Government hospitals purchase nearly 500 varieties of drugs and the government has asked them to purchase 102 varieties of drugs including various antibiotic from these PSUs.

"The placement of orders by hospitals will help the PSUs to earn over Rs. 250 crores (Rs. 2.5 billion) annually and make them profit making companies," Sandhu told IANS, adding that the total turnover at the end of this financial year is expected to be Rs. 5 billion.

Authorities said the Bengal Chemicals and Pharmaceuticals Limited would soon be directed to ensure adequate production and supply of anti-rabies vaccine in the market.

Government hospitals in India purchase drugs worth Rs. 30 billion every year and their orders will certainly help the companies very well, said Satwant Reddy, secretary in the ministry.

"Private companies are not producing necessary drugs for poor people. You will not find a folic acid tablet by a private company but its utility for our people is immense. They are cheap but essential and now it's the responsibility of government to manufacture them," she said.

Reddy further said that her ministry would shortly move to cabinet for a revival package for ailing Indian Drugs and Pharmaceuticals Limited (IDPL).

The 46-year-old company set up to make India self sufficient in drug development is currently a loss-making outfit.

It has been incurring losses since its inception except for a brief period of five years from 1974-75 to 1978-79. The accumulated loss and the total liabilities of the company, as on March 31, 2004 were provisionally estimated at over Rs.28.27 billion and Rs. 27.47 billion respectively.


'"/>




Related medicine news :

1. The Indian Government has given the nod to conduct Human volunteer trials inorder to develop preventive AIDS vaccines
2. The Central Government of India had issued a list of approved ingredients for use in ayurvedic, siddha, unani drugs
3. Tanzanian Government Sanctions $20 Million For AIDS Arug
4. Government Organisation Proposes Strict Guidelines For SubStandard Medical Devices
5. Indian Government warns Gujarat regarding possibility of bird flu
6. Indian Government Sets Up Task Force For Avian flu
7. Delhi Government To Interlink All Major Hospitals Through e-Governance
8. Kerala Government is in High Alert for Bird Flu
9. Philippines Government prepares to counter bird flu
10. Government Takes Tough Stand Against Falling Sex Ratio
11. Avian Influenza: Government to set up expert committee
Post Your Comments:
*Name:
*Comment:
*Email:


(Date:12/5/2016)... (PRWEB) , ... December 05, 2016 , ... ... of its latest transitional care facility – Avamere Transitional Care of Puget ... square foot short-term, post-acute health care center will provide patients recovering from illness ...
(Date:12/5/2016)... , ... December 05, 2016 , ... ... it has been featured in SuperbCrew magazine, a leading online tech news platform ... This interview, now featured on SuperbCrew.com, explores the state of enterprise mobility security ...
(Date:12/5/2016)... ... December 05, 2016 , ... Researchers at Johns Hopkins All Children’s ... of young athletes. Over the course of three years, researchers will study concussions and ... The mouth guards, equipped with special sensors, will track the location and force of ...
(Date:12/5/2016)... , ... December 05, 2016 , ... ... 70th Annual Meeting through tomorrow, December 6th, sparks a conversation about epilepsy, bearing ... , One in 26 people will be diagnosed with epilepsy within their lifetime. ...
(Date:12/5/2016)... (PRWEB) , ... December 05, 2016 , ... ... Keynote speaker for the 21st Annual International Congress on Hematologic Malignancies®: Focus on ... PER® president, Phil Talamo said, “We are honored to have Amy E. Herman ...
Breaking Medicine News(10 mins):
(Date:12/5/2016)... Dec. 5, 2016 Spain Glaucoma Surgery Devices ... report, "Spain Glaucoma Surgery Devices Market Outlook to 2022", ... Devices market. The report provides value, in millions of ... within market segements - Canaloplasty Micro Catheters and Glaucoma ... and distribution shares data for each of these market ...
(Date:12/5/2016)... Special purpose needles are used in target specific ... cells from organs or lumps and are available in the ... market for special purpose needles is showing a steady growth ... the global special purpose needles market is projected to expand ... and is expected to be valued at US$ 17,261.5 million ...
(Date:12/5/2016)... and BOCA RATON, Fla. ... Institute for the Commercialization of Public Research ... finalized a funding agreement SegAna, LLC, an ... at University of Central Florida. The Florida Institute ... and bridges early funding gaps for companies spinning ...
Breaking Medicine Technology: